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Exemption u/s 54

This query is : Resolved 
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03 October 2013 A House Property was booked by giving a token payment of Rs 100000/-to a promoter in December 2008 by provisional allotment of house property thereafter 2nd installment of Rs 1000000/-was given in December 2009 and thereafter full & final Payment of Rs 1500000/- was paid on December 2011 and registration of property done.In December 2013 the property was sold for Rs 5000000/-
My Query is Whether Gain from Property is Long Term or Short term.Indexation will be taken from which period?
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Nitesh Parmar

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Nitesh Parmar (Expert)
03 October 2013 If possession has taken before registration and payment has been made then that date will be count otherwise registration date will be considered as a date of acquisition.
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Goutam Chattopadhyay

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Goutam Chattopadhyay (Querist)
03 October 2013 dear sir please a case law on this matter for reference...
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